Lincoln National has purchased or merged with several other insurance companies over the years, companies like Jefferson-Pilot Life, American Guardian Life (one of the originators of term life insurance), Guarantee Life and First Penn Pacific Life.
Lincoln National just introduced their most competitive term life insurance product ever called TermAccel. TermAccel is only available for people ages 18 to 50, rated Preferred Plus to table 4, at amounts from $100,000 to $500,000 and they only offer 15, 20 and 30 year term.
The TermAccel rates are more competitively priced than Lincoln National’s LifeElement term rates.
TermAccel is also supposed to be a much quicker fully electronic underwriting process for which no medical records will ever be ordered.
While you could be approved for the TermAccel products without having to have an insurance exam, this no exam process only applies to people with no major medical conditions and that are within certain height/weight guidelines (example below).
- 5′ 0″ – 94 – 158 lbs
- 5′ 3″ – 104 – 175 lbs
- 5′ 6″ – 114 – 192 lbs
- 5′ 9″ – 125 – 209 lbs
- 6′ 0″ – 136 – 228 lbs
- 6′ 3″ – 148 – 248 lbs
- 6′ 6″ – 159 – 267 lbs
There is also non-medical criteria that could require you to have a blood/urine test and free exam, like use of tobacco products, parent or sibling death from cardiovascular disease or stroke before age 60, bankruptcy in last 5 years, history of DUI or distracted driving convictions in last 5 years, history of multiple moving violations in last 3 years and hazardous activities.
If you are required to have a mini-exam, it can be completed at your home or work at a time that is good for you.
Lincoln National also offers permanent life insurance products with a fairly competitive Guaranteed Universal Life product called Lifetime Guaranteed UL.
Lincoln National is also one of the companies that still offers a “table shave” on their permanent life insurance products, meaning people that are rated up to Table C or 3, can automatically be offered a lower “Standard” or Regular rate.
So if you’ve had mild coronary artery disease that required 1 stent or diabetes diagnosed in mid to later 30’s or later with decent control or other issues which have caused you to be “rated” a table 2 or 3 (B or C), then you may be able to qualify for Standard rates on Lincoln National Life’s Guaranteed Universal Life product.
For people over the age of 60 that are looking for 20 year term or longer and that have had some minor health issues like mild coronary artery disease or diabetes, then Lincoln’s GUL product may have a lower price and be a better value for you than traditional term life insurance.
If you have questions about Lincoln National Life or if you’d like quotes, please call us at 1-800-380-3533 or click here to email us or simply click link below and complete the information and we’ll email you with accurate quotes.